The government announced on Friday the first home owners grant for new homes in regional Victoria will double from $10,000 to $20,000 as of July 1 this year.  

Mr Begbie, 23, and his partner Abby Shaefer, 21, hope to begin planning for their new home this year. Mr Begbie previously thought he would only be able to enter the property market at 30. 

“I've been trying to save since I turned 18 but when you're young and you're a uni student or you want to travel and have life experiences before settling down or entering the market, it's definitely hard to save. 

“With this grant being a lot younger, it's more realistic for that dream to be achievable moving forward, it takes a lot of stress and pressure off the natural expectations of life.”

Premier Daniel Andrews was in Ballarat on Friday morning to spriuk the change.

The state government will double the first home owners grant for regional Victoria in a bid to draw more young buyers into the regions and counter the capital’s housing affordability crisis.

First home buyers building new homes in regional Victoria will be entitled to $20,000 as of July 1 this year, up from $10,000 for new homes valued up to $750,000.

Treasurer Tim Pallas said he expected the new grant would increase buyer interest in regional cities like Ballarat and promote decentralisation by drawing young people out of the state’s congested capital.

The government expects the grant to assist up to 6000 Victorian first home buyers. 

“Decentralisation is a vital part of our agenda. You can’t decentralise unless you provide people with housing opportunities and you make housing affordable, as a package of initiatives this is far and away in excess of what any other state has done.

“These are specific initiatives targeted at regional Victoria because we do think it's a vote of confidence that regional Victoria is an attractive place to live.”

The new grant is also expected to increase the uptake of the first home buyers grant, which dropped to its lowest point in more than a decade in 2014-2015.

The number of people who received the first home buyers grant dropped to just 10,000 grants in 2014-2015, down from a peak of 45,000 in 2009-2010, state revenue office data showed. 

Grants in 2014-2015 were concentrated in the urban fringes of Melbourne, with 170 awarded in Ballarat.

The grant will be applicable to contracts signed from 1 July 2017 to 30 June 2020, at which time, the Government will review the benefits for first home buyers and businesses in regional Victoria.

Mr Pallas said the government’s strategy would require developers to meet infrastructure guidelines to ensure new estates weren’t isolated from amenities. 

“In the past too often it was a game of infrastructure catch up, we’re now saying we expect developers to understand what infrastructure is required. It’s about being clear about how you can develop and bringing those plans into the market place and everyone bringing in their share of what is ultimately a social contract.”

Buninyong MP Geoff Howard said Friday’s announcement “amplified” the opportunity for first home buyers in regional Victoria. 

“I think it’s good for both sides, people can see a great opportunity to move away from Melbourne to live in Ballarat where housing is more affordable but for those who’ve grown up in Ballarat, this will mean for them that the dream of owning their first home can still be a reality for them.”

The grant will be applicable to contracts signed from 1 July 2017 to 30 June 2020, at which time the state government will review the benefits for first home buyers and businesses in regional Victoria.